If you’re a small business owner, you probably wear a million hats every single day.
A study by the American Psychological Association shows that when you manage multiple projects at once, you can experience a 40 percent drop in productivity. Your projects not only take longer to complete, but you also increase your overall stress levels while decreasing your effectiveness.
If you’re a small business with a small budget, you may not feel like you have the overhead to outsource some of your workload. But the fact is, some areas require more expertise than you may have, and many times, you can actually save both time and money in the long run through outsourcing properly. And instead of hiring more full-time employees to take over specialized tasks, you can consider outsourcing as a more cost-effective alternative.
You don’t need to outsource everything, especially if you really are trained in a specific area, but we’ve put together a list of 5 areas we think the average business owner would benefit from outsourcing.
1. Accounting & Bookkeeping
Having an employee who isn’t well versed in software or basic rules oversee your accounting is a risk that can either go well or really poorly.
Hiring a professional to handle bookkeeping and payroll could save you from making costly mistakes and help you avoid potential fines from the IRS, which can sometimes be more costly than simply hiring a professional.
2. Social Media Marketing
In 2020 there are many different social platforms, and each of them requires a lot of attention, so outsourcing social media can be invaluable to business owners.
Professional marketers can develop a strategy, write strong content, and build your following. Hiring a social media professional saves you the expense of hiring someone full-time or taking other employees away from their job to do something they’re not really good at.
3. Hr & Staffing
Every business owner wants good employees, but not every business owner is experienced in hiring. Outsourcing HR to a professional can help your business not only attract great talent, but also help you retain the good employees you already have.
Some HR mistakes can lead to costly fines. Firms that specialize in HR compliance and regulations can be a huge asset to you to protect you from lawsuits or other unneeded expenses.
Even if you have a tech-savvy employee who handles any IT issues that come up, it may be beneficial to reconsider outsourcing your IT. Professionals can fix issues faster and save you money by decreasing downtime. But that’s not all; a good IT company will help you put better systems in place to cut down on the number of overall issues you have, so your employees can get more accomplished without wasting company time waiting on their internet to work or for an old computer to boot up.
IT companies can also help you improve your data security, which minimizes your chances of experiencing a costly data breach, and they can help you be prepared and protected in the event of a disaster.
One misconception about outsourcing is that it’s expensive and out of reach for small businesses. But the reality is, you can outsource for a fraction of that cost of hiring a new employee. While there will be some cost associated with it, it won’t necessarily break the bank, and will often save you money in the long run.
If you’d like to see how an IT Managed Service Partner can help your business, contact us today.